TAIPEI (Reuters – Taiwan is a democracy with common values that are naturally partners in semiconductor development, a top EU official claimed on Thursday. He made a pitch to Taiwan’s major chip manufacturers to join the EU.

Taiwan Semiconductor Manufacturing Co Ltd, a tech powerhouse that includes companies such as Taiwan Semiconductor Manufacturing Co Ltd. (TSMC), is at the forefront of efforts to solve a chip shortage which has affected some lines of auto manufacturing around the globe. This impact has now been felt also in consumer electronics.

TSMC has announced that it is building a chip manufacturing plant worth $12 billion in Arizona. However, the company has not indicated any interest in a European facility similar to this.

Sabine Weyand was speaking at a Taiwan-EU virtual investment forum. Sabine Weyand is the director general for the European Commission’s Trade Section.

She spoke out in reference to legislation that was proposed by the Commission last month.

Taiwan is a leader in semiconductor production, and technology ultimately comes down to security. The EU’s digital agenda should be developed together with like-minded partners, and in accordance to our shared values.

The EU and its member countries do not have diplomatic relations with Taiwan, which is democratically-ruled but Chinese-claimed.

The government of Taiwan is eager to sign a Bilateral Investment Agreement (BITA) with the EU. This agreement was first added Taiwan in 2015 when President TsaiIng-wen became Taiwan’s first president. However, talks have not been held with Taiwan about the matter since that time.

Tsai stated at the same forum, that Taiwan was a natural partner to the EU because of its democracy, freedom, and respect for people’s rights.

The beginning of talks about a bilateral investment deal can mark the start of a concrete partnership with democracies.